Greywolf Capital Management LP lowered its position in Houghton Mifflin Harcourt Company (NASDAQ:HMHC) by 22.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 755,000 shares of the business services provider’s stock after selling 222,000 shares during the quarter. Houghton Mifflin Harcourt makes up about 2.9% of Greywolf Capital Management LP’s holdings, making the stock its 3rd biggest holding. Greywolf Capital Management LP owned about 0.61% of Houghton Mifflin Harcourt worth $9,287,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of HMHC. Bank of Montreal Can purchased a new stake in shares of Houghton Mifflin Harcourt during the 1st quarter worth approximately $111,000. First Trust Advisors LP lifted its position in shares of Houghton Mifflin Harcourt by 299.1% during the 1st quarter. First Trust Advisors LP now owns 125,518 shares of the business services provider’s stock worth $1,274,000 after buying an additional 94,067 shares during the last quarter. Karp Capital Management Corp purchased a new stake in shares of Houghton Mifflin Harcourt during the 1st quarter worth approximately $169,000. Sei Investments Co. lifted its position in shares of Houghton Mifflin Harcourt by 1.7% during the 1st quarter. Sei Investments Co. now owns 43,660 shares of the business services provider’s stock worth $443,000 after buying an additional 711 shares during the last quarter. Finally, Parametric Portfolio Associates LLC lifted its position in shares of Houghton Mifflin Harcourt by 57.8% during the 1st quarter. Parametric Portfolio Associates LLC now owns 137,123 shares of the business services provider’s stock worth $1,392,000 after buying an additional 50,237 shares during the last quarter. Institutional investors own 99.94% of the company’s stock.
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Shares of Houghton Mifflin Harcourt Company (NASDAQ:HMHC) traded down 0.43% during mid-day trading on Tuesday, hitting $11.70. 81,617 shares of the stock traded hands. Houghton Mifflin Harcourt Company has a one year low of $9.15 and a one year high of $13.95. The stock’s market cap is $1.44 billion. The stock has a 50-day moving average of $11.01 and a 200 day moving average of $11.66.
Houghton Mifflin Harcourt (NASDAQ:HMHC) last released its earnings results on Thursday, August 3rd. The business services provider reported ($0.20) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.23) by $0.03. The company had revenue of $393.05 million during the quarter, compared to analysts’ expectations of $387.68 million. Houghton Mifflin Harcourt had a negative return on equity of 16.14% and a negative net margin of 18.60%. The business’s revenue was up .3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.23) EPS. Equities analysts predict that Houghton Mifflin Harcourt Company will post ($1.59) EPS for the current fiscal year.
Several brokerages have recently weighed in on HMHC. Stifel Nicolaus restated a “hold” rating and set a $12.50 price objective on shares of Houghton Mifflin Harcourt in a research report on Thursday, September 21st. BMO Capital Markets restated a “hold” rating and set a $13.00 price objective on shares of Houghton Mifflin Harcourt in a research report on Monday, September 18th. Zacks Investment Research upgraded shares of Houghton Mifflin Harcourt from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. Finally, BidaskClub downgraded shares of Houghton Mifflin Harcourt from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the company’s stock. Houghton Mifflin Harcourt presently has an average rating of “Hold” and a consensus price target of $12.83.
About Houghton Mifflin Harcourt
Houghton Mifflin Harcourt Company (HMH) is a global learning company, specializing in education solutions across a range of media. The Company operates through two segments: Education and Trade Publishing. As of December 31, 2016, the Company delivered content, services and technology to both educational institutions and consumers, reaching over 50 million students in approximately 150 countries across the world.
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